It is a well-known fact that diversity at the workplace stimulates innovation. This is why companies must design their talent recruitment methods in a way to match up to a diverse audience. A recent study was undertaken by McKinsey to gauge the full extent of the benefits of having a diverse workforce, in terms of financials, implementation and capturing insights to translate into best practices. This study was conducted across twelve countries. The gap in productivity in clearly rising, with diverse organizations, needless to say, doing better. The highest correlation in gender terms, is at the executive level. There are more women in line roles rather than staff ones in better performing organization’s executive teams. Ethnic diversity at executive level still remains despairingly low in the US and the UK. One needs a microscope to locate an African-American woman CEO. Australia on the other end, performs most admirably in women’s inclusion at executive levels. Even a country with such a complicated history on race relations as South Africa, is grappling with these terms, now having far greater diversity than ever before. Formal corporate training programmes are needed to be delivered at organizations in order to systematically increase the diversity stakes. The strategy need be tailored in such a way that benefits get maximized at the local level.

Source:https://www.mckinsey.com/business-functions/organization/our-insights/delivering-through-diversity?cid=other-soc-twi-mip-mck-oth-1801&kui=36NDwp-FmGm78mUtd2a-7g

Uploaded Date:13 February 2018